What are the responsibilities and job description for the Statutory Financial Reporting Manager position at Pekin Insurance?

You spend at least a third of your day at your job. You might as well spend it doing something you really love while working with a team you really enjoy being with, right? That's the kind of atmosphere we offer at Pekin Insurance-fun, fast-paced, gratifying, supportive, and collaborative.

Of course, it's not all fun and games. Insurance is a serious business, and we pride ourselves on making people's lives whole again after a major disaster or even a fender bender. It's that sense of helping people that makes our team want to do our best every day.

If you want to be excited about starting your workday and are ready to make a real difference in people's lives, this could be the right spot for you.

See what Pekin Insurance has to offer by viewing a short video here.

Position Overview

The Financial Reporting Manager is responsible for managing Financial Reporting staff along with managing the organization's internal financial reports, statutory reporting processes, financial statements, and related disclosures to meet the standards set by evolving laws and regulations. Additionally, they will champion a culture of innovation and efficiency, actively seeking opportunities for improvement in processes and practices to drive the organization towards greater success and competitiveness.

Essential Job Functions

Statutory Reporting Oversight :

Reviews and submits statutory financial statements, including balance sheets, income statements, and cash flow statements, in strict adherence to applicable accounting standards and regulatory frameworks, responsible for preparation of more complex schedules
Ensures timely and accurate reporting to regulatory bodies such as state insurance departments, coordinating effectively with both internal and external stakeholders, including auditors and regulators
Reviews and finalizes audit reports, annual reports, and other financial disclosures, ensuring compliance with the NAIC's Statements of Statutory Accounting Principles (SSAPs) and maintaining a high standard of accuracy

Financial Compliance Management :

Stays abreast of updates to statutory accounting standards and regulations, evaluating their implications for the organization's financial reporting obligations

Develops and implements robust policies, procedures, and internal controls to uphold compliance with statutory accounting principles and regulatory requirements

Conducts routine reviews and audits to assess adherence to statutory reporting standards, identifying areas for improvement and implementing corrective measures as necessary

Financial Analysis and Insight :

Conducts thorough analysis of financial data to identify trends, variances, and potential risks associated with statutory reporting

Prepares customized financial reports and analyses for senior management, auditors, and regulatory authorities upon request, providing valuable insights to inform decision-making processes

Internal Control Governance :

Establishes and maintains effective internal controls over financial reporting, ensuring the protection of assets, preservation of data integrity, and mitigation of financial risks

Monitors compliance with internal control procedures, proactively identifying opportunities for enhancement and recommending appropriate actions to maintain compliance and operational efficiency

Performs all other duties as assigned

Education & Experience

Required

Bachelor's degree in accounting, finance, or a related field

Minimum of 6 years of related experience preferably in the insurance industry

Four years of experience in leading and managing teams

Preferred or Specialized

Workday Experience

Certifications & Licenses

Certified Public Accountant (CPA) or equivalent professional certification preferred

Knowledge, Skills & Abilities

Demonstrated ability in :

Proficient communication skills demonstrated in both verbal and written contexts

Proven capacity to identify problems, gather data, derive factual insights, and draw sound conclusions

Analyzing, organizing, and prioritizing tasks effectively while managing multiple deadlines

Analyzing, consolidating, and interpreting accounting data for informed decision-making

Comprehending and extracting insights from accounting literature, financial reports, and legal documents

Situational analysis and exercising judgment to make critical decisions

Filing, bookkeeping, recording, and computational tasks

Demonstrated knowledge of :

Deep understanding of statutory accounting principles, regulations, and reporting requirements, including familiarity with standards such as GAAP or SAP

Utilizing Microsoft Office software for various tasks and analyses

Salary Range :

93,500-$130,900 per year

This range is based on the expected level of experience and skills for this position. Final compensation will depend on individual qualifications.

This position is bonus eligible

Benefits :

Health, Dental and Vision Insurance

Generous 401(k) with company match

Paid Time Off (PTO) with Paid Holidays

Flexible / Hybrid Work Schedule

Paid Volunteer Program

For more information about the benefits we offer, please visit our Careers Page.

Salary : $93,500 - $130,900

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Statutory Financial Reporting Manager

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